First Solar (NASDAQ:FSLR)‘s stock had its “outperform” rating reissued by research analysts at Cowen in a note issued to investors on Wednesday. They presently have a $77.00 price target on the solar cell manufacturer’s stock, up from their previous price target of $60.00. Cowen’s target price suggests a potential upside of 25.80% from the company’s previous close.

A number of other analysts have also weighed in on FSLR. Roth Capital set a $70.00 price objective on First Solar and gave the company a “buy” rating in a research note on Friday, December 1st. Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of First Solar in a research note on Friday, December 1st. Zacks Investment Research lowered First Solar from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Vetr raised First Solar from a “sell” rating to a “buy” rating and set a $64.01 price objective for the company in a research note on Tuesday, October 31st. Finally, ValuEngine lowered First Solar from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $55.16.

Shares of First Solar (NASDAQ FSLR) opened at $61.21 on Wednesday. The stock has a market capitalization of $5,980.88, a P/E ratio of 14.04 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. First Solar has a 52 week low of $25.56 and a 52 week high of $63.10.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $1.11. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. First Solar’s revenue for the quarter was up 59.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. equities analysts expect that First Solar will post 2.47 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Fiduciary Trust Co. bought a new position in shares of First Solar during the second quarter valued at approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First Solar by 64.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock valued at $201,000 after acquiring an additional 1,716 shares in the last quarter. Garner Asset Management Corp bought a new position in shares of First Solar during the second quarter valued at approximately $208,000. World Asset Management Inc bought a new position in shares of First Solar during the second quarter valued at approximately $221,000. Finally, Riverhead Capital Management LLC raised its holdings in shares of First Solar by 82.6% during the second quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after acquiring an additional 2,560 shares in the last quarter. Institutional investors own 51.21% of the company’s stock.

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First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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